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Most Medicare beneficiaries worried about inflation’s effect on healthcare costs

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A full 95% of Medicare beneficiaries are worried about the impact of inflation on healthcare costs. And nearly half of the 2,500 beneficiaries recently surveyed by eHealth say their healthcare costs have already increased due to inflation.

The survey , conducted before news of a possible compromise Senate bill to address drug costs under Medicare, also shows that 86% of seniors support government involvement in negotiating drug prices. Nine out of ten of those surveyed are living on a fixed income.

Those on fixed incomes are especially vulnerable to the impact of inflation on costs, the analysis found, with the consequences almost immediate.

WHAT’S THE IMPACT

When it comes to healthcare cost inflation, the top two worries of Medicare beneficiaries are increased prescription drug costs and increased Medicare Part B premiums, each cited by 65% of respondents.

Meanwhile, 60% worry about higher copays and deductibles, and 57% worry about higher premiums for other forms of Medicare coverage.Seniors believe government involvement could help reduce costs – 88% say that reducing drug costs now would help lessen their worries about inflation. Among these, 40% say it would make “a big difference, while 48% say it would make “some difference.”Slightly fewer, 86%, want more government […]

Click here to view original web page at www.healthcarefinancenews.com

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